Index Factsheet

MSCI Europe Dividend Masters Index (USD)The MSCI Europe Dividend Masters Index captures large and mid-cap representation across 15 Developed Markets countries* in Europe.
The index is designed to capture the performance of companies in MSCI Europe Index that have consistently increased dividends every
year for at least 10 years. The index is constructed by targeting a minimum of 25 securities and the index constituents are equally weighted.
The sector weights are capped at 30% and country weights are capped at 50% to mitigate potential concentration risks.
For a complete description of the index methodology, please see Index methodology - MSCI.

CUMULATIVE INDEX PERFORMANCE — NET RETURNS (USD)(SEP 2009 – SEP 2024)
300

ANNUAL PERFORMANCE (%)

MSCI Europe Dividend Masters
MSCI Europe

276.87240.48200

100
50
Sep 09Dec 10Mar 12

Jun 13

Sep 14

Dec 15

Mar 17

Jun 18

Sep 19Dec 20Mar 22Jun 23Year

MSCI Europe
Dividend Masters

MSCI Europe

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010

21.37
-24.83
19.80
7.15
26.70
-10.87
22.08
-6.58
-1.77
-0.31
26.74
16.33
0.68
9.1819.89-15.06
16.30
5.38
23.77
-14.86
25.51
-0.40
-2.84
-6.18
25.23
19.12
-11.06
3.88

Sep 24INDEX PERFORMANCE — NET RETURNS (%) (SEP 30, 2024)

FUNDAMENTALS (SEP 30, 2024)
ANNUALIZED

1 Mo

3 Mo

1 Yr

YTD

3 Yr

5 Yr

10 Yr NovSince
29, 2002

MSCI Europe Dividend Masters

1.67

10.14

27.83

12.81

3.07

8.09

4.87

MSCI Europe

0.39

6.58

25.23

12.77

6.66

8.90

5.59

Div Yld (%)

P/EP/E Fwd

P/BV

9.22

2.54

25.96

20.14

3.64

7.19

3.14

15.20

13.55

2.11

INDEX RISK AND RETURN CHARACTERISTICS (NOV 29, 2002 – SEP 30, 2024)
ANNUALIZED STD DEV (%) 2Beta

MSCI Europe Dividend Masters 0.91

6.46

1.00

0.00

MSCI Europe

1Last 12 months

SHARPE RATIO 2 , 3

MAXIMUM DRAWDOWN

3 Yr

5 Yr

10 Yr

3 Yr

5 Yr

10 Yr

Since
Nov 29,
2002

28.79

18.34

18.78

15.88

0.07

0.39

0.27

0.50

66.75

2007-06-04—2009-03-09

3.34

18.11

19.14

16.37

0.26

0.42

0.31

0.38

62.99

2007-10-31—2009-03-09

Tracking TurnoverError (%) (%) 12

Based on monthly net returns data3(%)

Period YYYY-MM-DD

Based on NY FED Overnight SOFR from Sep 1 2021 & on ICE LIBOR 1M prior that date

* Developed Markets countries in Europe include: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden,Switzerland and the UK.
The MSCI Europe Dividend Masters Index was launched on Jul 15, 2014. Data prior to the launch date is back-tested test (i.e. calculations of how the index might have performed
over that time period had the index existed). There are frequently material differences between back-tested performance and actual results. Past performance -- whether actualor back-tested -- is no indication or guarantee of future performance.

MSCI Europe Dividend Masters Index (USD) | msci.com

SEP 30, 2024

Index Factsheet

INDEX CHARACTERISTICS
Number ofConstituents

MSCI Europe
Dividend Masters

TOP 10 CONSTITUENTSMSCI Europe

42415

SOFINAASHTEAD GROUPBUNZLGIVAUDANCRODA INTERNATIONAL
LOTUS BAKERIESDSVSYMRISE
DIAGEOUNITED UTILITIES GROUP
Total

Weight (%)

LargestSmallest
Average
Median

2.71
1.98
2.38
2.39

3.30
0.02
0.240.10

CountryIndex
Wt. (%)

BEGB
GBCH
GB
BE
DKDEGB
GB

2.71
2.63
2.59
2.57
2.56
2.52
2.52
2.51
2.50
2.49
25.61

ParentIndex
Wt. (%)

0.04
0.30
0.14
0.44
0.07
0.05
0.31
0.16
0.68
0.08
2.26

SectorFinancials
Industrials
Industrials
Materials
Materials
Cons Staples
Industrials
Materials
Cons Staples
Utilities

FACTORS - KEY EXPOSURES THAT DRIVE RISK AND RETURNMSCI FACTOR BOX
UNDERWEIGHTMSCI FaCS
NEUTRAL

VALUE
Relatively Inexpensive Stocks

OVERWEIGHTLOW SIZE
Smaller Companies
MOMENTUMRising Stocks
QUALITY
Sound Balance Sheet Stocks
YIELD
Cash Flow Paid Out
LOW VOLATILITY
Lower Risk Stocks<-1.50MSCI Europe Dividend Masters

MSCI FaCS provides absolute factor exposuresrelative to abroad global index - MSCI ACWI IMI.

+1.5<MSCI Europe

Neutral factor exposure (FaCS = 0) represents
MSCI ACWI IMI.

SECTOR WEIGHTS

COUNTRY WEIGHTS
10.13%

11.96%

9.86%

6.77%

12%

18.54%

9.89%
4.94%
2.39%

13.91%

2.25%
21.32%
26.42%

18.12%

Industrials 26.42%

Health Care 18.12%

Consumer Staples 11.96%
Communication Services 2.39%

Materials 10.13%

Information Technology 13.91%
Financials 9.89%

Utilities 4.94%

31.51%

United Kingdom 31.51%
Denmark 6.77%

Switzerland 21.32%

Germany 12%

Belgium 9.86%

Other 18.54%

Real Estate 2.25%

MSCI Europe Dividend Masters Index (USD) | msci.com

SEP 30, 2024

Index Factsheet

MSCI FACTOR BOX AND FaCS FRAMEWORK (Please refer to complete description of the MSCI FaCS methodology here)
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios. MSCI FaCS consistsof Factor Groups (e.g. Value, Size, Momentum, Quality, Yield, and Volatility) that have been extensively documented in academic
literature and validated by MSCI Research as key drivers of risk and return in equity portfolios. These Factor Groups are constructedby aggregating 16 factors (e.g. Book-to-Price, Earnings/Dividend Yields, LT Reversal, Leverage, Earnings Variability/Quality, Beta)from the latest Barra global equity factor risk model, GEMLT, designed to make fund comparisons transparent and intuitive for use.
The MSCI Factor Box, which is powered by MSCI FaCS, provides a visualization designed to easily compare absolute exposuresof funds/indexes and their benchmarks along 6 Factor Groups that have historically demonstrated excess market returns overthe long run.

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